Vertiv (NYSE:VRT) Trading Down 2.6% – Here’s What Happened

Shares of Vertiv Holdings Co (NYSE:VRT) were down 2.6% during mid-day trading on Monday . The company traded as low as $115.60 and last traded at $116.97. Approximately 1,194,676 shares changed hands during trading, a decline of 85% from the average daily volume of 8,071,082 shares. The stock had previously closed at $120.04.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective for the company. Oppenheimer raised their price target on Vertiv from $121.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Bank of America upped their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Vertiv from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group boosted their target price on shares of Vertiv from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Vertiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.09.

Vertiv Price Performance

The company has a current ratio of 1.38, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The firm’s fifty day moving average price is $121.88 and its 200 day moving average price is $99.33. The firm has a market capitalization of $44.57 billion, a PE ratio of 79.16, a P/E/G ratio of 1.29 and a beta of 1.61.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 55.33% and a net margin of 7.72%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, equities analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.0375 per share. This is a boost from Vertiv’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is presently 6.67%.

Insider Activity at Vertiv

In related news, insider Anand Sanghi sold 30,914 shares of Vertiv stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $141.46, for a total value of $4,373,094.44. Following the completion of the transaction, the insider now owns 19,448 shares in the company, valued at $2,751,114.08. The trade was a 61.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jakki L. Haussler sold 15,347 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $137.38, for a total value of $2,108,370.86. Following the transaction, the director now owns 3,425 shares in the company, valued at $470,526.50. This represents a 81.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,527 shares of company stock worth $23,105,682 in the last three months. Company insiders own 5.01% of the company’s stock.

Institutional Investors Weigh In On Vertiv

A number of institutional investors have recently added to or reduced their stakes in VRT. Krane Funds Advisors LLC purchased a new position in Vertiv during the third quarter valued at $29,000. Anchor Investment Management LLC acquired a new position in shares of Vertiv during the 2nd quarter worth about $26,000. Global Trust Asset Management LLC purchased a new position in Vertiv in the 3rd quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC boosted its holdings in Vertiv by 200.0% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Vertiv during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.